JAKARTA-
Bank Indonesia (BI) as Indonesia's central bank revoked the permit of the American Express Bank branch office at the request of the bank's headquarters for self liquidation in view of the ongoing process of integrated management of the Standard Chartered Bank and the American Express Bank, Ltd.
Sources from Bank Indonesia's public relations office here said on Wednesday the revocation of the permit was effective as of February 24, 2009 on the basis of Bank Indonesia's decision No. 11/2009 dated February 24, 2009.
Following the revocation of the permit to establish a branch office in Indonesia and to conduct banking business activities as a commercial bank based on decree of the Finance Ministry No D.15.6.2.3 of March 21, 1968 on the granting of business permit to the American Express International Banking Cooperation in Hartford, Connecticut, USA with its head office in New York, which then changed its name into the American Express Bank, Ltd based on the Indonesian Finance Ministry decree No S-404/MK.11 1985 of August 27, 1985, is no longer valid,.
"For customers and other parties who still have the right or obligation to the branch office of the American Express Bank Ltd. in Indonesia are advised to contact the branch office of Standard Chartered Bank in Indonesia," the sources said. 05 March 2009 (ANTARA)
Showing posts with label Foreign Banks. Show all posts
Showing posts with label Foreign Banks. Show all posts
Friday, March 6, 2009
BANK INDONESIA REVOKES PERMIT OF AMEX BANK BRANCH OFFICE
JAKARTA-
Bank Indonesia (BI) as Indonesia's central bank revoked the permit of the American Express Bank branch office at the request of the bank's headquarters for self liquidation in view of the ongoing process of integrated management of the Standard Chartered Bank and the American Express Bank, Ltd.
Sources from Bank Indonesia's public relations office here said on Wednesday the revocation of the permit was effective as of February 24, 2009 on the basis of Bank Indonesia's decision No. 11/2009 dated February 24, 2009.
Following the revocation of the permit to establish a branch office in Indonesia and to conduct banking business activities as a commercial bank based on decree of the Finance Ministry No D.15.6.2.3 of March 21, 1968 on the granting of business permit to the American Express International Banking Cooperation in Hartford, Connecticut, USA with its head office in New York, which then changed its name into the American Express Bank, Ltd based on the Indonesian Finance Ministry decree No S-404/MK.11 1985 of August 27, 1985, is no longer valid,.
"For customers and other parties who still have the right or obligation to the branch office of the American Express Bank Ltd. in Indonesia are advised to contact the branch office of Standard Chartered Bank in Indonesia," the sources said. 05 March 2009 (ANTARA)
Bank Indonesia (BI) as Indonesia's central bank revoked the permit of the American Express Bank branch office at the request of the bank's headquarters for self liquidation in view of the ongoing process of integrated management of the Standard Chartered Bank and the American Express Bank, Ltd.
Sources from Bank Indonesia's public relations office here said on Wednesday the revocation of the permit was effective as of February 24, 2009 on the basis of Bank Indonesia's decision No. 11/2009 dated February 24, 2009.
Following the revocation of the permit to establish a branch office in Indonesia and to conduct banking business activities as a commercial bank based on decree of the Finance Ministry No D.15.6.2.3 of March 21, 1968 on the granting of business permit to the American Express International Banking Cooperation in Hartford, Connecticut, USA with its head office in New York, which then changed its name into the American Express Bank, Ltd based on the Indonesian Finance Ministry decree No S-404/MK.11 1985 of August 27, 1985, is no longer valid,.
"For customers and other parties who still have the right or obligation to the branch office of the American Express Bank Ltd. in Indonesia are advised to contact the branch office of Standard Chartered Bank in Indonesia," the sources said. 05 March 2009 (ANTARA)
Wednesday, February 4, 2009
Barclays completes acquisition of Bank Akita
JAKARTA-
UK-based Barclays has completed the acquisition of Bank Akita, which was announced initially in September 2008, following the approval of the Central Bank of Indonesia.
Barclays said that Akita will form part of Barclays global retail and commercial banking (GRCB) emerging markets business.
Barclays intends to rebrand Akita as Barclays Bank Indonesia, at an appropriate date, subject to the necessary approvals.
Following the acquisition, and subject to regulatory approval, Samir Gupta has been nominated as the managing director of Barclays Bank Indonesia and will report to Ahmed Khan, CEO of Barclays GRCB emerging markets. Prior to this appointment, Mr Gupta held the position of retail director for Barclays GRCB emerging markets.
Mr Khan said: "The acquisition of Akita is an excellent fit with Barclays strategy of increasing its presence, over time, in emerging markets with good growth characteristics. Indonesia is a very attractive market, with the fourth largest population in the world, strong economic growth and a low penetration of banking products. It is an exciting opportunity, not just for Barclays, but for the Indonesian consumer who will have access to the global scale and skills of one of the world's leading universal banks."
UK-based Barclays has completed the acquisition of Bank Akita, which was announced initially in September 2008, following the approval of the Central Bank of Indonesia.
Barclays said that Akita will form part of Barclays global retail and commercial banking (GRCB) emerging markets business.
Barclays intends to rebrand Akita as Barclays Bank Indonesia, at an appropriate date, subject to the necessary approvals.
Following the acquisition, and subject to regulatory approval, Samir Gupta has been nominated as the managing director of Barclays Bank Indonesia and will report to Ahmed Khan, CEO of Barclays GRCB emerging markets. Prior to this appointment, Mr Gupta held the position of retail director for Barclays GRCB emerging markets.
Mr Khan said: "The acquisition of Akita is an excellent fit with Barclays strategy of increasing its presence, over time, in emerging markets with good growth characteristics. Indonesia is a very attractive market, with the fourth largest population in the world, strong economic growth and a low penetration of banking products. It is an exciting opportunity, not just for Barclays, but for the Indonesian consumer who will have access to the global scale and skills of one of the world's leading universal banks."
Foreign Investors Still Interested in Bukopin
Jakarta-
PT Bank Bukopin CEO Glen Glenardi said foreign investors are still attracted to Bank Bukopin to be their strategic investor. The plan is being delayed due to the economic downturn. "They are still biding their time," Glen said in Jakarta yesterday.
Bukopin also said it was continuing with its rights issue plans, scheduled to take place during the first semester of 2009. The company will offer 20 – 30 percent of its share to the current shareholders in order to support Bukopin's business and to add the capital sufficiency ratio which is currently at 11 percent.
According to Glen, Bukopin's rights issue was supposed to happen in 2008, targeting earnings of about Rp800 billion to Rp1 trillion. However, the unsupportive market situation forced them to cancel the plan. This year, Bukopin has targeted funds from third parties fund to increase by 20 – 30 percent from last year's Rp27 trillion.
Besides the rights issue, Bukopin will also launch 30 micro- financial institutions in February 2009. These institutions are intended to counsel small and medium-scale businesses through cooperation with the community or through partnerships. 29th January 2009 By Tempo Interactive
PT Bank Bukopin CEO Glen Glenardi said foreign investors are still attracted to Bank Bukopin to be their strategic investor. The plan is being delayed due to the economic downturn. "They are still biding their time," Glen said in Jakarta yesterday.
Bukopin also said it was continuing with its rights issue plans, scheduled to take place during the first semester of 2009. The company will offer 20 – 30 percent of its share to the current shareholders in order to support Bukopin's business and to add the capital sufficiency ratio which is currently at 11 percent.
According to Glen, Bukopin's rights issue was supposed to happen in 2008, targeting earnings of about Rp800 billion to Rp1 trillion. However, the unsupportive market situation forced them to cancel the plan. This year, Bukopin has targeted funds from third parties fund to increase by 20 – 30 percent from last year's Rp27 trillion.
Besides the rights issue, Bukopin will also launch 30 micro- financial institutions in February 2009. These institutions are intended to counsel small and medium-scale businesses through cooperation with the community or through partnerships. 29th January 2009 By Tempo Interactive
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